MB 050: Raising Money from Family Offices (With Richard Wilson)

Learning how to find and analyze multi-family deals is important, but if you can’t afford to fund it yourself, you need a strategy for raising money! Doing what everyone else is doing to raise money is less and less effective, and that’s why I’ve invited Richard Wilson on the podcast to talk about raising money. Richard’s business isn’t just about raising money for real-estate, but we can adopt many of the strategies that Richard talks about to raise money for our multi-family deals!

About Richard Wilson:

Richard Wilson helps $100M+ net worth families create and manage their single family offices and currently manages 14 clients including mandates with three billionaire families. Richard is also the founder of the Family Office Club, the largest membership-based family office association. Richard hosts the “The Family Office Podcast”, and he is the author of the #1 bestselling book in the family office industry, The Single Family Office: Creating, Operating, and Managing the Investments of a Single Family Office. He is a sought-after speaker and has spoken at over 150 conferences in 17 countries. Richard currently resides on the island of Key Biscayne, Florida with his wife and two daughters.

Enjoy the interview!

Key Takeaways:

[1:54] Definition of a Single-Family Office: Private company that manages investments and trusts for a single person or family.

Many wealthy people prefer to put their money back into operating businesses.

[9:27] Richard’s experience raising money

Around 250 million raised

[9:56] Richard’s strategies for raising money

Stop pitching people. They don’t like it.

Start educating people. Provide real value to other people that are already in the game.

[13:02] There are experts in your niche that don’t compete with you but have enormous credibility. Find ways of efficiently connecting them to each other, (like through a podcast), and you will get Triple ROI:

Getting value out of their brain

You will gain a connection to this person

Now everyone knows your well connected and educated

[15:39] Richards advice on raising money from private investors.

Analyze your competition and what you offer. Know what’s really going on in your industry.

Identify your position so that almost no one can compete with you.

Architect exactly how you will attract the people based on your unique

Execution

Iteration

[20:45]- When you layer communities, you create good luck.

[23:44] What Richard would do if he had only 500 bucks and a laptop (EO Fire Podcast question)

Position himself to own a checkpoint and find a way to control a critical resource.